Search

John Lewis staff see bonus cut for sixth year

PUBLISHED: 11:31 07 March 2019 | UPDATED: 11:45 07 March 2019

John Lewis staff in Norwich will see their bonus cut once again. Picture: DENISE BRADLEY

John Lewis staff in Norwich will see their bonus cut once again. Picture: DENISE BRADLEY

Archant

Staff at John Lewis have seen their bonuses cut for the sixth year in a row, reducing the celebrated bonus to 3% of annual salary.

The 83,000 staff at the John Lewis Partnership will share out of a £44.7m pot, which last year stood at £74m.

The news will affect staff at Norwich’s John Lewis, as well as Waitrose staff across Norfolk in Norwich, Wymondham, Swaffham and North Walsham.

MORE: Aviva increases Brexit backstop by £100m in new results



The news came as profits plummeted at John Lewis.

Operating profit at the department store fell by 56% to £114.7m due to weaker home sales, tighter margins, higher IT costs and the cost of new shops.

Like-for-like sales at the brand were down 1.4%.

In contrast, operating profit at Waitrose recovered, climbing 18% to £203.2m.

The supermarket’s like-for-like sales jumped 1.3%.

Chairman Sir Charlie Mayfield said: “In line with expectations set out in June, our Partnership profits before exceptionals have finished substantially lower in what has been a challenging year, particularly in non-food.”

MORE: Government boost to ‘green power revolution’ will generate 6,000 skilled jobs in East Anglia

He warned that trading conditions are set to remain challenging in 2019, but that the partnership was “confident in our strategic direction and customer offer across both brands”.

Become a supporter

This newspaper has been a central part of community life for many years, through good times and bad. Coronavirus is one of the greatest challenges our community has ever faced, but if we all play our part we will defeat it. We're here to serve as your advocate and trusted source of local information.

In these testing times, your support is more important than ever. Thank you.



Most Read

Most Read

Latest from the Eastern Daily Press